In a recent transaction, Sheena Jonathan, Co-Founder of Natera, Inc. (NASDAQ:NTRA), a leader in personalized genetic testing and diagnostics, sold a significant amount of company stock. The sales, which took place on September 18, 2024, totaled over $2.8 million.
The transactions involved the sale of multiple blocks of shares at varying prices. The prices per share for these transactions ranged from $127.3779 to $128.0748. In detail, the sales were conducted in multiple transactions, with shares being sold at different prices within the given range. The total number of shares sold by Jonathan has not been disclosed in a single block but occurred through several transactions as part of pre-arranged trading plans.
These trading plans, known as Rule 10b5-1 plans, were adopted by Jonathan on different dates, with some plans established as early as March 13, 2023, and others on December 12, 2023. Rule 10b5-1 plans allow company insiders to sell shares at predetermined times to avoid accusations of insider trading.
It is notable that some of the shares sold were indirectly held by trusts, namely the Caraluna 1 Trust and Caraluna 2 Trust, for the benefit of Jonathan's minor children. Jonathan has disclaimed beneficial ownership of these securities, indicating that they are held for the children's benefit.
The sale represents a significant divestment by the Co-Founder, but the remaining holdings of Sheena Jonathan in Natera, Inc. are still substantial. Following the sale, the exact number of shares retained by Jonathan directly or indirectly through trusts is detailed in the SEC filing but was not provided in this summary.
Investors often monitor insider transactions as they can provide insights into an insider’s perspective on the company's current valuation and future prospects. However, such sales can also be part of standard financial planning and diversification strategies by company insiders.
Natera, Inc. continues to be a key player in the medical laboratories industry, providing innovative genetic testing solutions. The company's business address is located in Austin, Texas, and it operates under the legal jurisdiction of Delaware.
In other recent news, Natera Inc . has been in the spotlight due to several significant developments. The company reported a 12% sequential revenue increase from the first quarter and a 58% surge year-over-year, prompting it to raise its full-year revenue guidance to approximately $1.5 billion. The gross margin expectation stands at 55%, accompanied by a record number of test volumes and a rise in average selling prices.
Analysts from Piper Sandler, TD Cowen, and Canaccord Genuity have maintained positive ratings on Natera's shares, highlighting the potential impact of the new Galaxy study results and the anticipation of the presentation at the European Society for Medical Oncology (ESMO). They have emphasized Natera's significant lead in the market due to its first-mover advantages, particularly with its cancer test, Signatera.
In other developments, Natera's Renasight test received an endorsement from the National Kidney Foundation for chronic kidney disease testing. Despite a delay in the submission of the ALTAIR study and the non-renewal of the Foundation Medicine partnership, the company anticipates steady sequential growth in volumes and revenue with a projected 40% revenue growth compared to 2023. These are some of the recent highlights in Natera's journey.
InvestingPro Insights
Following the recent insider transactions by Sheena Jonathan, Co-Founder of Natera, Inc. (NASDAQ:NTRA), investors are closely scrutinizing the company's financial health and stock performance. According to InvestingPro data, Natera boasts a robust market capitalization of $15.75 billion, reflecting significant investor confidence in the company's market position and future growth potential.
Despite not being profitable over the last twelve months, Natera has demonstrated impressive revenue growth, with the latest figures showing a 46.13% increase in the last twelve months as of Q2 2024. This growth trajectory is further highlighted by the company's quarterly revenue growth of 58.13% in Q2 2024, signaling strong ongoing business momentum.
An InvestingPro Tip underscores that analysts have revised their earnings expectations upwards for the upcoming period, which could indicate potential for continued revenue growth or operational improvements. Moreover, Natera's stock has experienced a strong return over the last three months, with a 19.3% price total return, and a remarkable 170.21% return over the past year, showcasing its robust performance in the stock market.
For investors seeking more in-depth analysis, additional InvestingPro Tips are available, including insights on Natera's liquidity, debt levels, and trading multiples. Currently, there are 9 more tips listed on InvestingPro that can help investors make more informed decisions about Natera, Inc. These can be found at: https://www.investing.com/pro/NTRA.
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